BTC had the 4th false breakout last night and lasted less than one day from the long term downtrend support line on weekly chart. That’s bearish indicator to see 4th false breakout. I still don’t see the possibility to break from the very long downtrend on weekly chart. Saying so, I’ll keep monitoring to see a stronger breakout on weekly chart to confirm uptrend.
Do you know what this chart is saying on 1W period? It’s saying watch out, we might have reached a strong resistance level at around 9200 euro, for third week unable to break it. We reached the upper bank and we might have started a down trend. Keep an eye and secure any open position.
The price of LTCEUR has been fluctuating since 25 April between the 50 and 100 EMA on 1 day chart as support and resistance levels, with few false breakouts. These are strong levels on high durations like 1 day. Let’s keep watching any possible confirmed breakout downtrend or uptrend. I’m not giving any bullish or bearish analysis here, just stating my personal...
After good Green Day, at the time writing this post, we are at a strong resistance level. Currently, we are at the 100 EMA on 1 day chart, at the 38.2 FIB level of latest downtrend, at the level of previous support and resistance levels in previous times.
Let’s monitor if we cross towards the upper band on 1 day chart at 46 euro, then we might reach to 50 FIB at...
Just sharing with you this triangle in the 1hr chart. The tip of triangle is on Friday 8th of May as shown on the chart. Let’s watch whether it is going to be bullish or bearish breakout. I won’t give price analysis for now, just sharing this triangle if you haven’t seen it.
In previous post, I share the MACD crossover the signal on 1W chart. This is usually...
The MACD line has just crossed over the signal line, and histogram went positive above zero level. That’s a bullish sign, let’s further confirm it on lower duration charts. Just wanted to share this sign with you readers.
We reached the bottom of the ascending channel. Expectation that we rise up again after this consolidation days back to the top of the channel. Let’s c.
Remember the ascending triangle I mentioned in previous posts? Look how confirmed and clear it is. We are reaching to the breakout point. Usually, the breakout is bullish. I expect it will target 136 euros which is at the resistance of the longer term ascending channel.
Remember the triangle I mentioned in previous post? It is confirm again. A short term ascending triangle within the long term ascending channel. Yesterday I bought at the support line at 119€ today I sold at resistance line at 124.5€. Continue monitoring these trends with MACD and RSI and volume is key.
To confirm my idea three days ago, I said (almost crossover) on the MACD chart. Today, the crossover happened, which is a bearish signal (MACD under Signal). I still think we are moving towards the support of the uptrend channel, with shorter uptrends and downtrends.
Another thing to watch is the ascending triangle more visible in the 4 hr chart.
My updated...
Almost reaching the tip of a symmetrical triangle on the 1 hour chart.
Volume needed.
I still think we should touch the support line of the long terms ascending channel as in my previous posts.
As you can see in the chart, my analysis is based on 3 indicators.
1) we are moving downwards towards the support of the very clear uptrend parallel channel.
2) a cross over between MACD and Signal, where MACD become under Signal, this is a bearish signal.
3) we have 3 lower highs histogram.
To put all in one picture, I will wait until we reach the support of...
LTCEUR is in an uptrend channel. Currently on top of the channel. I will sustain from buying until more clarity, either to touch the support line of the channel or breakout upwards. If it breaksout, target is 133€ which is equal to width of the channel.
Based on my analysis, we are on 5th wave. Each of the 2-3-4 waves have hit the exact fib targets of wave 1. Wave 5 should reach 200% or 223% of wave 1 as per fib theory. I’ll target to sell at 112 to be in safe side. We should expect A-B-C Retracement wave afterwards.
I see LTC heading towards 100s region, to the 109€ hopefully. Consistent with my previous ascending triangle analysis, it is still leading to the same conclusion. The wave 2 was false breakout in terms of triangle as volume is low. Highest width of triangle takes you to 105€. So it’s very consistent with Elliott. Let’s wait and see.
P.s I’m not your financial...
We can see an ascending triangle about to break. This is a bullish indicator. Will wait another day and monitor closely. The resistance horizontal line becomes support, which is around the 23.6 fib level of the ever high to the most recent lowest level at 88€. I expect price will break by same highest width of the triangle, which means towards 102-104€.
